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The psychology of strategy

Published: 4 Jun 2014

The psychology of strategy is all about achieving desired objectives, according to business strategy experts. Inherent in this definition is a process of prioritising and focus.

... Business strategy tends to focus on using analysis to drive strategic choices rather than an in-depth understanding of human behaviour. Organisations seek quantitative parameters on which to base their decisions. But could we get more reliable results from a deeper understanding of human behaviour, by learning more about the personalities and behaviour preferences of those who are integral to organisational success? This includes staff within the organisation itself, and its customers or other external stakeholders.When behaviour is considered in the context of business strategy, priority is given to cognitive psychology, a study of the mind, which considers the process and challenges of problem solving, using algorithms or heuristics. Business theorists Henry Mintzberg and Daniel Isenberg describe how managers apply thinking and intuition to deal with unpredictable situations, focusing more on thinking than feeling.

Read full article: The WITS Business School Journal

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